Klingenstein Fields & Co. LLC decreased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,364 shares of the bank’s stock after selling 25 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Bank Of Montreal were worth $320,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of Bank Of Montreal by 7.1% in the second quarter. Great West Life Assurance Co. Can now owns 5,707,527 shares of the bank’s stock valued at $417,991,000 after buying an additional 379,748 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Bank Of Montreal by 14.2% in the second quarter. Janney Montgomery Scott LLC now owns 19,106 shares of the bank’s stock valued at $1,403,000 after buying an additional 2,378 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $307,000. Lincluden Management Ltd. raised its stake in shares of Bank Of Montreal by 8.6% in the second quarter. Lincluden Management Ltd. now owns 678,018 shares of the bank’s stock valued at $51,271,000 after buying an additional 53,837 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Bank Of Montreal by 5.4% in the second quarter. Acadian Asset Management LLC now owns 7,292,805 shares of the bank’s stock valued at $534,707,000 after buying an additional 372,000 shares during the last quarter. Institutional investors own 48.33% of the company’s stock.
Shares of Bank Of Montreal (NYSE:BMO) traded down 0.58% during mid-day trading on Friday, hitting $72.52. The stock had a trading volume of 483,050 shares. The stock’s 50-day moving average price is $74.86 and its 200-day moving average price is $73.52. The firm has a market cap of $47.28 billion, a PE ratio of 11.45 and a beta of 1.02. Bank Of Montreal has a 52-week low of $62.32 and a 52-week high of $78.00.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.05. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, analysts anticipate that Bank Of Montreal will post $6.30 earnings per share for the current fiscal year.
Bank Of Montreal declared that its Board of Directors has authorized a share repurchase program on Thursday, April 27th that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be issued a $0.6616 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.65%. Bank Of Montreal’s payout ratio is currently 46.18%.
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Several brokerages recently commented on BMO. BidaskClub lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, July 18th. Canaccord Genuity assumed coverage on Bank Of Montreal in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada cut their price target on Bank Of Montreal to $108.00 and set a “sector perform” rating on the stock in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $88.38.
Bank Of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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